TaxesUncategorized

Capital gains indexing overview

The Treasury Department’s current proposal to index cap gains would certainly save a lot of money for some people. News coverage refers to the proposal as “Tax Cuts 2.0”. This single proposal would cut federal income taxes by $102 billion over the next decade.

86% of the savings would go to top 1% wealthiest people. The top 0.1%, the ultra-rich, would get almost 2/3rds of total tax benefit.

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